prices. A time series A time series that has been adjusted for inflation is expressed in that has not been adjusted for inflation is expressed in prices. current; constant constant; current past: common common; past Question 10 1 pts If the growth rate of money is 5 percent, the growth rate of velocity is 1 percent, and the growth rate of real output is 2 percent, then inflation is approximately HINT: You can use the dynamic equation of exchange to solve for inflation given the other known variables. 2 percent 4 percent 5 percent 8 percent Use the data in Table 1 to calculate the simple inflation rate from 1971 to 1972 , expressed as a percent rounded to one decimal place. Table 1. Personal Consumption Expenditures Price Index (PCEPI), 1970 - 1975. 0.7 percent 3.1 percent 3.2 percent 7.0 percent Use the data in Table 1 to calculate the continuously compounding annual rate of inflation from 1973 to 1975 , expressed as a percent rounded to one decimat place. Table 1. Personal Consumption Expenditures Price Index (PCEPI), 1970 - 1975. 1.8 percent 6.0 percent 9.0 percent 18.0 percent